If you're new around here, it might be best to have quick read through the first income report I published in September 2015 to find out what exactly I'm doing here and why. Basically, each month I'd like to share the following: How much I earned, how much I spent/invested into my business and on what and what I learned during that month. So let's get to it.
September 2015 Earnings:
- Social Media Projects: 5.300,00€
- Copywriting: 1.150,00€
- Blogger Relations: 1.000,00€
Total Revenue (excl. VAT): 7.450,00€
September 2015 Expenses*:
- Adobe Creative Suite: 8,50€
- Google Apps: 4,00€
- Website Hosting: 21,75€
- Phone & Internet: 43,00€
- Coaching: 425,00€
Total Expenses: 502,25€ (*Not included: social insurance payments, taxes, rent, utilities)
Total Net Profit: 6.947,75€
As you can see, there's a huge difference between August and September 2015, as my income in September was more than 150% higher than last month's. While, as previously mentioned, August had been a little bit of a slow month for me, September definitely made up for it! In the beginning of the month, I was in charge of all social media channels for a large medical congress with several thousand attendees, which was equal parts informative, entertaining and challenging. In addition to taking care of various ongoing social media and copywriting clients, I also worked on a project focusing on blogger relations. In all honesty, September went by in a flash - albeit a very successful one.
After publishing last month's report, a small discussion on Twitter erupted on the topic of omitting social insurance and tax payments from it. To me, including these payments in my income report does not add transparency, since they represent preliminary figures and might increase or decrease quite drastically after I submit my final tax report for this year. For the sake of completeness, though, please bear in mind that the sum you see in the picture above is definitely not the amount of money I get to spend this month, as at least 50-66% of it goes directly into a savings account as I will definitely need it to pay for my final tax and social insurance payments at the end of the year as well as next year.
As for my expenses, I am super excited about finally booking a coaching course with Jen Carrington who some of you might know from her awesome Podcast Make It Happen. Since I've been feeling a little stuck in my daily work life lately, and also have a few ideas whirling around in my head, I can't wait to start our weekly sessions in mid-November and sort through all these topics together with her. As a freelancer, you often forget that working ON your business is just as important as working IN your business (thanks for reminding me of that saying yesterday, Monika) - so I'm taking the time (and the money) to do just that in order to grow and expand it.
I can already tell you that the next two months will look completely different from this one, once again - I'll be taking my first true vacation (no laptop, no answering emails, no skype calls) in almost 4 years in October/November, which of course also means that my income will take a hit in these weeks. Also, I am in the last stages of launching a project I've been working on together with Lisa during the past 9 months which is very near and dear to my heart. We'll be announcing it soon, so stay tuned!
Now, tell me: What do you think of these income reports - do you find them informative, helpful or just TMI in general? Let me know in the comments or tweet me your thoughts.